Dividend 15 Split Corp T.DFN

NAV July 11

[AnEducator]

~$14.86. The NAV needs to rise by less than 1% to get to $15.00, but clearly euphoric investors have finally seen the light and realize that a significant premium is completely unwarranted for a fund whose distributions have become questionable going forward.

This is not to say they will be unable to pay at all, just that they will no longer be as regular as they have been in the past. DGS is a great comparison.

I must admit, I did not see such a violent, precipitous decline with a distribution within reach. The volume of almost 4.3 million shares is absolutely astounding. I don't ever recall seeing it so high.

[mouserman]

I would say a lot of stop-losses got hit by the sellers and perhaps even the shorties adding to the pain... was a long overdue correction. This does happen at times with severe corrections in the markets.. but really the markets have only been a bit bumpy. ATM machine helped keep DFN commons at the lofty levels...

[DanRiffs7]

Can you help me out how you get $14.86 ?    Is the NAV not prefered + class A share prices? $9.40 for the prefered amd $5.90 for class A = $15.30 What am I missing here if I may ask?

[EdPaquette]

Happy to help.  Quadravest considers the preferreds to always have a value of 10 as long as unit nav is above 10, regardless of selling price.   You can find nav at Quadravest website.  The selling price doesn't match the nav because these are closed-end funds. 

[Intellectual]

The trading price of the shares is something altogether different from the NAV, which represents the true value of the units. As of today's close, the true value of the units is $14.86, which comprises of $10.00 for the preferred shares and $4.86 for the capital shares. The trading prices, as you noted, are different from the true values. The preferreds are trading at a discount while the

[EricDividends]

Easy answer is no, the NAV is not the share prices. it is the value of the underlying securities, currently DFN is selling at a preminum way over the actual value of the common class A shares.